One of the specialized and targeted business loan type that is highly supported by government is the Minority Business Loan. This type of loan was developed for small and medium entrepreneurs representing minority groups or women. It was established to inspire business ownership and encourage growth of companies owned and operated by these social niches.

Many of the applicants for minority business loans are borrowers who have been disapproved by many other financing institutions. It is important for these individuals and businesses to be aware that there are several government sectors that have financial allocations for funding minority business loans.

The American government realizes the difficulty associated with loan applications and approvals for individuals and businesses in general. It is also acknowledged that it is even more complicated and challenging for minority groups to seek loans. It is for this reason that the Minority Business Development Agency was established.

The MBDA is a member of the US Department of Commerce and is the only national agency developed with a sole objective to encourage the institution and progress of businesses owned by minorities in the United States of America. It is through integration of public and private resources that MBDA is able to work towards its goal.

A group of Business Resource Centers, Minority Business Development Centers and Native American Business Development Centers that are found all over America is funded by MBDA. These institutions offer personal help for minority entrepreneurs in their effort to avail of Minority Business Loans as well as in the overall success of their business. Mentoring individuals in writing business plans, marketing and basic management extends assistance to the interested parties. Technical and financial planning are likewise supported.

In relation to Minority Business Loans, MBDA knows that the first key element of business success for any minority entrepreneur is getting approvals for minority business loans. Therefore, the initial guidance provided by MBDA comprises training on the preparation of approvable loan and grant applications. The MBDA leads the entrepreneur on successful business plan presentations in order to project a viable endeavor worthy of the financing support.

Minority Business Loans are customized and directed towards women and minority business operators. ‘Women’ in this sense is meant for those who come from underprivileged communities. Several banks, federal agencies and private businesses have allied together to provide for these groups business funding. However, it must be noted that minority business loans are different from minority business grants. Minority Business loans, just like any other loan, need to be paid back.

The basic criteria for qualifying for a minority business loan include:

- The borrower must be a member of a minority group
- The borrower’s intended use of the funds should be geared towards starting a minority business or expanding an existing one
- The business effort must be situated in a target and minority-populated region

Working on a minority loan funding requires careful preparation. The most important of which is the element of the Business Plan. So, if you are among those interested, take the time to research and prepare. Loan applications may present difficulty unless appropriate preparation is done.

E. Linares is Chief Visionary Architect at Commercial Magnet:: the new face of the online lending marketplace where borrowers and lenders connect; 6 points of service to help build your wealth! Commercial Magnet is the entrepreneurial platform that takes business owners from start to funding. Find out how a Business Loan or Working Capital can help fuel your business at http://www.commercialmagnet.com.

Self-publishing is the hottest trend in books, as it provides creative thinkers turned authors with a fast and easy way to get their work on the market. With the added option of “print on demand”, and desktop publishing and design software, the initial cost to get your book out can be very minimal.

Self-publishing is also the most profitable since you get to keep all the profits for yourself. IF you are committed to the work it is going to take to sell your books that is.

One of the most difficult challenges a self-published author faces is getting their book into the hands of people that will appreciate it enough to pay their hard earned money. I recall reading an article on the self-publishing industry that reported the average number of self-published books sold per author is about 100 copies!

With that horrifying number in mind, you need to roll up your sleeves and prepare to launch a focused marketing and promotion program that will have you doing at least 3 things per day every day for the next 6 months to promote your book. Remember, no one can dream your dream but you, and ultimately, you are the only one responsible for the success or failure of your book.

Start by arming yourself with as much knowledge on the subject as possible. Check out these books and websites on marketing and promoting for self-published authors:

THE SELF-PUBLISHING MANUAL by Dan Poynter is I think hands down, the best promotional book and guide to successful self-publishing for a first time author. It is easy to read and understand, and organized in a fashion that make it a valuable reference as you go through the writing and publishing process.

GUERILLA MARKETING FOR WRITERS by Jay Conrad Levinson is another easy to follow guide with more than 100 ideas for marketing and promoting your book. There are like a zillion Guerilla Marketing books covering a wide range of markets.

THE COMPLETE GUIDE TO SELF-PUBLISHING by Tom & Marilyn Ross guides authors through the entire self-publishing process from writing the first word to wildly creative ways to market the finished product.

1001 WAYS TO MARKET YOUR BOOK by John Kremer is top notch. John Kremer is a legend in the book marketing field. But there are SO many ideas presented this 3″ thick book that I found it to be somewhat overwhelming. His websites are much easier to go through for people that are A.D.D. like me!

Leveraging the power and global reach of the Internet is the next step you must take.

Every author needs a web page. Do you have one set up for your book or books yet? This site will serve as the foundation of your marketing campaign and is a step you cannot afford to skip. Your website will be used as a vehicle to promote both yourself and your work 24 hours per day. It will also display or link to book reviews, to provide the media and press with an avenue for contacting you for interviews, and will of course help you sell your product.

Your website does not have to be fancy and expensive. As a matter of fact, it is better if it’s rather non-dynamic. You want the key focus to be on your book and YOU, not your fancy FLASH intro.

After that, you need to get your book reviewed. There are mainstream book reviewers, and there are many niche market reviewers as well. Check out John Kremer’s list of newspaper reviewers at BookMarket.Com.

Authors of Black books have many options available.

When seeking reviews, be prepared to send out a copy of your book along with a headshot photograph, author contact information, and information on where your book can be purchased. This is when you would mention your wonderful new website! Here is a list of Black book reviewers and sites:

QBR The Black Book Review
QBR is a reliable source for what is current in Black books. QBR also produces the Harlem Book Fair, the largest African American book Fair nationally, held annually in New York City.

Felicia Pride’s Black Books Blog - More Than Words
Felicia reviews and blogs about Black books on AOL’s Black Voices channel.

African American Literature Book Club (AALBC)
The largest site on the web focusing on Black books.

The RawSistaz
This group of ladies provides casual reviews of a wide variety of books, all written by African American authors.

Let’s Talk Honestly with George Cook
George provides free interviews with Black authors which are posted as pod casts each week on this popular website.

The Black Issues Book Review
This the only nationally distributed magazine devoted exclusively to covering the latest news and reviews on black books.

Now you have a published book and a couple of great reviews. It’s time to contact Black bookstores in your area. Go visit them with your book in hand, introduce yourself, and ask if they will either carry your book or allow you to have a book signing in their store.

Book retailers usually receive a rather large discount from the cover price (as much as 60%). Since each independent retailer has its own sales agreement and terms, all I can tell you is to be sure to read each carefully.

Make sure the terms regarding book returns, payment dates, and merchandise delivery are spelled out clearly and to your satisfaction before signing on the dotted line.

Writing, researching and editing your book is certainly a lot of hard work, but that is just the beginning. All that work pales in comparison to the long hours and the effort you must put into getting your name out there and your book noticed every single day until you reach your sales and financial goals.

I cannot describe with words the deep sense of satisfaction one gets when you open up a package from your publisher and find the first copy of a real book that has your name on it. And selling thousands of those books is certain validation that what you have to say has value and is important to others.

Get busy making it happen!

Deborrah is a relationships expert and self-published author of the hilarious guide to modern dating entitled: “Sucka Free Love - How to Avoid Dating The Dumb, The Deceitful, The Dastardly, The Dysfunctional & The Deranged.” Order your copy today at http://www.suckafreelove.com

Please answer these questions:
1) Would you pay someone to fill out an application for a credit card?
2) Do you want to make a simple process more complicated?
3) Are you lazy?

If you answered YES, to one or more of the above, then totally reconsider if you want to get SBA 8a certified, because you don’t have the right stuff to success in the business world even if you got certified.

Why spend the money to buy software, when you can just download the forms for FREE from the SBA’s web site and fill them out for nothing? The SBA provides all of the forms you need to use.

If you need to pay a middle man to provide you with free forms, you must have more money than sense! It is not logical to pay someone hundreds or THOUSANDS of dollars to fill out forms for you. Don’t let scare tactics fool you. This is just a series of forms, you can fill them out, it is not rocket science!

Also, why provide all of your sensitive personal and professional data to an outside source, when they take that same information and fill in the blanks on the SBA forms for you? Do you want to give your social security number, your tax return information and all of your personal data to a total stranger?

My Story: In 2004, I decided to apply online for SBA 8a certification. There is plenty of explanation during each step of the process to guide you through the steps. (Note: If you have questions, you can even call the SBA office in Washington DC to get free guidance. They do answer the phone and they are very helpful.)

Before I attempted to apply for SBA 8a certification, I made sure I had all of the required registrations in place. For example, I registered with Dun & Bradstreet to get my DUNS. Again, this is a free service, you don’t have to pay someone. In the SBA 8a application, they provide a driect link to D&B.

The beauty of applying online is that you can complete a section, save it and then come back. But once you have completed the entire application, you submit the entire application electronically and it gets reviewed quickly.

There is one document you download to have notarized and send in via snail mail. Once that is received by the SBA, they review your application.

It took only a couple of weeks to hear back on my decision. I received an email requesting two more documents to complete. One was a simple form that required notarization. The other request was to complete a social disadavantage narrative.

Again, I spent some time researching the narrative and prepared one on my own. I submitted it and within a week, my company was certified.

How much money did I pay someone else to fill out SBA 8a forms or write my own social disadvantage life story? Zero, zip, nada.

Bottomline: If you can’t fill out a form on your own and you are intimidated to even try, you might want to consider NOT giving up your day job. Owning a business is hard work. Getting your certification is only the beginning. Once you are certified, then the real work begins as you market and move your business to profitability.

Design2Train, a SBA 8a certified company, was founded by Karen Miller in 2001, an award-winning instructional designer with 30+ years experience. Need help with writing your SBA 8a social disadvantage narrative? Visit the Design2Train.com